Navigators profits slip despite top line growth

New York-listed insurer Navigators saw operating income for the
third quarter dip to $20.3mn from $26.1mn for the same period last
year.
Underwriting deteriorated as the carrier's combined ratio
increased from 89.5 percent in Q3 2014 to 93.4 percent in the
current reporting season.
But that was partially offset by net investment income for the
quarter that increased to $17.4mn, a 9.7 percent uplift on the
$15.8mn it reported in the prior-year period.
Stan Galanski, Navigators' president and CEO,